Nexstar Media Group, Inc. $NXST Holdings Boosted by Kendall Capital Management

Kendall Capital Management boosted its holdings in shares of Nexstar Media Group, Inc. (NASDAQ:NXST) by 23.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 23,614 shares of the company’s stock after acquiring an additional 4,485 shares during the quarter. Nexstar Media Group accounts for about 1.1% of Kendall Capital Management’s investment portfolio, making the stock its 24th largest holding. Kendall Capital Management owned 0.08% of Nexstar Media Group worth $4,669,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently bought and sold shares of NXST. Claret Asset Management Corp boosted its holdings in shares of Nexstar Media Group by 4.1% during the second quarter. Claret Asset Management Corp now owns 1,348 shares of the company’s stock worth $233,000 after purchasing an additional 53 shares during the period. Merit Financial Group LLC increased its stake in Nexstar Media Group by 1.7% in the 3rd quarter. Merit Financial Group LLC now owns 3,515 shares of the company’s stock valued at $695,000 after buying an additional 59 shares during the period. Verdence Capital Advisors LLC increased its stake in Nexstar Media Group by 0.6% in the 3rd quarter. Verdence Capital Advisors LLC now owns 11,647 shares of the company’s stock valued at $2,222,000 after buying an additional 68 shares during the period. Geneos Wealth Management Inc. raised its holdings in shares of Nexstar Media Group by 15.7% during the second quarter. Geneos Wealth Management Inc. now owns 589 shares of the company’s stock worth $102,000 after acquiring an additional 80 shares in the last quarter. Finally, Focus Partners Advisor Solutions LLC raised its position in Nexstar Media Group by 4.4% during the third quarter. Focus Partners Advisor Solutions LLC now owns 1,946 shares of the company’s stock valued at $377,000 after acquiring an additional 82 shares in the last quarter. Hedge funds and other institutional investors own 95.30% of the company’s stock.

Nexstar Media Group Price Performance

NXST stock opened at $244.77 on Wednesday. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 3.05. The stock has a market cap of $7.42 billion, a PE ratio of 83.26, a price-to-earnings-growth ratio of 0.97 and a beta of 0.79. Nexstar Media Group, Inc. has a 1 year low of $141.66 and a 1 year high of $254.30. The stock has a 50-day moving average price of $223.80 and a two-hundred day moving average price of $206.87.

Nexstar Media Group Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Friday, February 13th were issued a dividend of $1.86 per share. The ex-dividend date of this dividend was Friday, February 13th. This represents a $7.44 annualized dividend and a yield of 3.0%. Nexstar Media Group’s dividend payout ratio (DPR) is currently 253.06%.

Analyst Upgrades and Downgrades

NXST has been the subject of a number of recent analyst reports. Barrington Research reaffirmed an “outperform” rating and set a $290.00 target price on shares of Nexstar Media Group in a research report on Tuesday, March 3rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Nexstar Media Group in a report on Monday, December 29th. Guggenheim raised their price objective on shares of Nexstar Media Group from $250.00 to $290.00 and gave the stock a “buy” rating in a report on Friday, February 27th. Wells Fargo & Company boosted their price target on Nexstar Media Group from $250.00 to $290.00 and gave the company an “overweight” rating in a research note on Friday, February 27th. Finally, Citigroup upped their price objective on shares of Nexstar Media Group from $204.00 to $252.00 and gave the stock a “neutral” rating in a research note on Monday, March 2nd. Five research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $278.67.

Nexstar Media Group Company Profile

Nexstar Media Group, Inc is a diversified American media company engaged primarily in the ownership, operation and strategic affiliation of local television stations, digital platforms and cable networks. The company provides a range of broadcast content, including local news, sports coverage, entertainment programming and syndicated shows, reaching audiences in more than 100 television markets across the United States.

Founded in 1996 by entrepreneur Perry Sook and headquartered in Irving, Texas, Nexstar has built its presence through organic growth and a series of high-profile acquisitions.